This week's soybean story was one of unbridled demand. Weekly U.S. soybean export sales set an all-time high for this marketing year at 1.3 MMT (47.7 million bushels). Sales need to average just 200,000 MT (7 million bushels) a week to meet USDA's marketing year forecast. This morning's NOPA crush report showed that 157 million bushels (4.3 MMT) of soybeans were processed in the U.S. in the month of November. The all-time high monthly soybean crush number was 160 million bushels (4.35 MMT) back in 2009.Note that the percentages of USDA's soybean meal and soybean oil export sales were significantly larger until those goals were increased in last Tuesday's WASDE. The soybean oil export estimate was increased from 1,200 million pounds to 1,8...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.